Regulatory Roundup: June 14 to 20

By:
Chris Gaetano
Published Date:
Jun 20, 2017

AICPA 

AICPA Announces 2017 Accounting Scholars Leadership Workshop Graduates
Press Release:  New York (June 19, 2017) – The American Institute of CPAs is pleased to announce that 98 students have graduated from the 2017 Accounting Scholars Leadership Workshop (ASLW) program. 
Published on June 19, 2017

AICPA Awards P. Thomas Austin Scholarship to Shane Mason, CPA/PFS
Press Release:  LAS VEGAS (June 15, 2017) – The American Institute of CPAs announced today that Shane Mason, CPA/PFS, has been awarded the 2017 P. Thomas Austin Personal Financial Planning (PFP) Division Scholarship. Mason was presented the award at the AICPA’s Adva
Published on June 15, 2017

Corporate Tax Cut Must Include Small Businesses, AICPA Says in Senate Testimony
Press Release:  Annette Nellen, CPA, CGMA, Esq., chair of the AICPA Tax Executive Committee, testified today about the effect of various tax reform proposals on America’s small business owner-operators at a hearing titled Tax Reform: Removing Barriers to Small Business Growth, which was conducted by the Senate Committee on Small Business and
Published on June 14, 2017

Staffing Concerns Are Dominant Issue for CPA Firms in 2017, AICPA Survey Finds
Article:  Finding and retaining staff are the top issues facing CPA firms this year, and talent pool challenges are expected to have the biggest impact on public accounting practice operations over the next five years, too, new research by the American Institute of CPAs shows
Published on June 14, 2017

AICPA Not-for-Profit Conference Features FASB and IRS Officials
Press Release:  Agenda for AICPA's Not-For-Profit Conference features speakers from FASB and the IRS
Published on June 14, 2017

Scott Sprinkle Receives AICPAs PFP Distinguished Service Award
Press Release:  LAS VEGAS (June 14, 2017) – The AICPA is pleased to announce that Scott Sprinkle, CPA/PFS has received the AICPA’s 2016 Personal Financial Planning (PFP) Distinguished Service Award.
Published on June 14, 2017

AICPA Announces Standing Ovation Honors in Personal Financial Planning
Press Release:  LAS VEGAS (June 13, 2017) – The American Institute of CPAs (AICPA) today honored 16 CPAs under the age of 40 for their contributions to personal financial planning with the second annual Personal Financial Planning (PFP) Standing Ovation.
Published on June 13, 2017

AICPA to Testify at Senate Hearing Examining Small Business Tax Reform Issues
Press Release:  Chair of the American Institute of CPAs (AICPA) Tax Executive Committee Annette Nellen, CPA, CGMA, Esq., will testify this Wednesday at a Senate Committee for Small Business and Entrepreneurship hearing titled 'Tax Reform: Removing Barriers to Small Business Growth.'
Published on June 13, 2017

AICPA Requests Delay in Effective Date for New Partnership Audit Regime
Press Release:  AICPA requests that the U.S. Department of the Treasury and the IRS work with Congress to pass legislation to delay the effective date of the "Centralized Partnership Audit Regime" for one year, pushing it back from 12/31/17.
Published on June 13, 2017

CBO

Report
Answers to Questions for the Record Following a Hearing Conducted by the Senate Committee on the Budget on "Running the Government for Less"
June 16, 2017

Cost Estimate
S. 934, FDA Reauthorization Act of 2017
June 15, 2017

Cost Estimate
S. 829, AFG and SAFER Program Reauthorization Act of 2017
June 15, 2017

Blog Post
CBO to List Upcoming Releases on Website
June 15, 2017

Blog Post
CBO to Issue Updated Budget and Economic Projections on June 29, Analysis of the President’s FY 2018 Budget in July
June 15, 2017

Cost Estimate
S. 504, APEC Business Travel Cards Reauthorization Act of 2017
June 14, 2017

Cost Estimate
H.R. 2473, Put Trafficking Victims First Act of 2017
June 14, 2017

Cost Estimate
H.R. 2258, ADVANCE Act
June 14, 2017

Cost Estimate
H.R. 627, Streamlining Energy Efficiency for Schools Act of 2017
June 14, 2017

GAO

Hydrographic Surveying:
NOAA Needs Better Cost Data and a Strategy for Expanding Private Sector Involvement in Data Collection
GAO-17-510:Published: Jun 15, 2017. Publicly Released: Jun 15, 2017.

Memory Supplements:
Clarifying FDA and FTC Roles Could Strengthen Oversight and Enhance Consumer Awareness
GAO-17-416:Published: May 16, 2017. Publicly Released: Jun 15, 2017.

Management Report:
Opportunities for Improvement in FHFA's Evaluation of Internal Control over Financial Reporting
GAO-17-552R:Published: Jun 14, 2017. Publicly Released: Jun 14, 2017.

VA Information Technology:
Pharmacy System Needs Additional Capabilities for Viewing, Exchanging, and Using Data to Better Serve Veterans
GAO-17-179:Published: Jun 14, 2017. Publicly Released: Jun 14, 2017.

IASB

20/06/17
IASB proposes amendments to IAS 16 to reduce diversity in practice

19/06/17
Primary Financial Statements—June and July 2017 meeting information

19/06/17
IFRS Foundation seeks applications for IFRS Advisory Council Members

16/06/17
Forthcoming publication: Property, Plant and Equipment—Proceeds before Intended Use

16/06/17
IASB workshop for academics Kuala Lumpur

IRS 

Orlando IRS Tax Forum Registration Deadline is June 27
IR-2017-108, June 15, 2017 — Tax professionals wishing to attend the IRS Nationwide Tax Forum in Orlando, Fla., can save $115 by registering soon, according to the Internal Revenue Service.

IRS Warns of New Phone Scam Involving Bogus Certified Letters; Reminds People to Remain Vigilant Against Scams, Schemes this Summer
IR-2017-107, June 15, 2017 -– The Internal Revenue Service today warned people to beware of a new scam linked to the Electronic Federal Tax Payment System (EFTPS), where fraudsters call to demand an immediate tax payment through a prepaid debit card. This scam is being reported across the country, so taxpayers should be alert to the details.

IRS Continues to Expand Taxpayer Services; Adds New Features to Taxpayers Online Account
IR-2017-106, June 13, 2017 — The Internal Revenue Service announced today the addition of several new features to the online account tool first introduced late last year as part of the IRS’s commitment to improve and expand taxpayer services.

NYS Dept. of Taxation and Finance

Subway Sandwich Shop Owner Arrested for Failing to Pay more than $110,000 in Sales Tax

Twenty-one men indicted in massive cigarette smuggling scheme after investigation by Bronx DA, NYPD, NYS Tax Dept. and Homeland Security Investigations

PCAOB

PCAOB Solicits Nominations for its Standing Advisory Group
WASHINGTON, June 13, 2017
The Public Company Accounting Oversight Board is soliciting nominations for the 2018-2020 term of its Standing Advisory Group, which advises the PCAOB on its standard-related projects.

Peter H. Bresnan to Join PCAOB as Senior Advisor in Division of Enforcement and Investigations
WASHINGTON, June 14, 2017
The Public Company Accounting Oversight Board today announced that Peter H. Bresnan will join the Division of Enforcement and Investigations as Senior Advisor to the Director, effective July 10.

SEC 

SEC Announces Agenda for June 22 Investor Advisory Committee Meeting
2017-114
Washington D.C., June 14, 2017—The Securities and Exchange Commission today announced the agenda for the June 22 meeting of its Investor Advisory Committee. The meeting will begin at 10:00 a.m. in the Multipurpose Room at SEC headquarters at 100 F Street, N.E., Washington, D.C. and is open to the public.  The meeting will be webcast live and archived on the committee’s website for later viewing.

Keith Cassidy Named Associate Director of Technology Controls Program in OCIE
2017-115
Washington D.C., June 15, 2017—The Securities and Exchange Commission today announced that Keith E. Cassidy has been named Associate Director, Technology Controls Program, in the Office of Compliance Inspections and Examinations (OCIE).  Mr. Cassidy began his career at the SEC as an Attorney Advisor in the Office of Legislative and Intergovernmental Affairs in 2010 before being promoted to Deputy Director in 2011 and Director of the office in 2016. 

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